The Financial Statements & their Relationship / Connection | Explained with Examples

In this lesson, we explain the financial statements and their relationship / or how they are connected. The financial statements we look at are the Statement of Financial Position (Balance Sheet), Statement of Comprehensive Income (Income Statement), and the Statement of Cash Flows (Cash Flow Statement). We explain and contrast these financial statements, show the formats of the financial statements, and show their relationships and how the financial statements are prepared/completed.

Timestamps:
Statement of Comprehensive Income (Income Statement) Explained: 00:42
Statement of Financial Position (Balance Sheet) Explained: 01:41
Statement of Cashflows (Cash Flow Statement) Explained: 03:39
Statement of Comprehensive Income (Income Statement) format: 07:40
Statement of Financial Position (Balance Sheet) format: 09:03
Statement of Cash Flows (Cash Flow Statement) format: 09:45
Income Statement vs Balance Sheet: 10:51
Income Statement vs Cash Flow Statement: 13:49
Balance Sheet vs Cash Flow Statement: 14:57

Cash Flow Statement – Indirect Method (Full Example): https://youtu.be/UDFILLOdZuc

Cash Flow Statement | Direct Method | Full Example: https://youtu.be/ivEjypY5Vuo

Accruals Explained with Examples: https://www.youtube.com/playlist?list=PLP0Gzx94dL329lQicnUkn1Qoyvxg9hbw3

Check out other straight-forward examples on our channel.

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